Entropy Technologies LP Makes New $1.28 Million Investment in Flowserve Co. (NYSE:FLS)

Entropy Technologies LP purchased a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,666 shares of the industrial products company's stock, valued at approximately $1,275,000.

A number of other large investors also recently bought and sold shares of FLS. Versor Investments LP increased its position in Flowserve by 33.5% during the 3rd quarter. Versor Investments LP now owns 5,584 shares of the industrial products company's stock worth $289,000 after purchasing an additional 1,400 shares in the last quarter. Wolverine Asset Management LLC increased its position in shares of Flowserve by 6.3% in the third quarter. Wolverine Asset Management LLC now owns 17,000 shares of the industrial products company's stock worth $879,000 after acquiring an additional 1,000 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Flowserve during the 3rd quarter valued at $29,000. Los Angeles Capital Management LLC boosted its position in Flowserve by 29.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 129,531 shares of the industrial products company's stock worth $6,695,000 after purchasing an additional 29,392 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in Flowserve by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock valued at $442,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Stock Down 1.2 %

NYSE:FLS traded down $0.73 during mid-day trading on Thursday, reaching $59.17. The stock had a trading volume of 698,318 shares, compared to its average volume of 1,099,738. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. Flowserve Co. has a 1-year low of $37.24 and a 1-year high of $61.60. The stock's 50 day simple moving average is $52.70 and its two-hundred day simple moving average is $49.82.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. Flowserve's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. Equities analysts anticipate that Flowserve Co. will post 2.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLS. Jefferies Financial Group assumed coverage on Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 price objective on the stock. Royal Bank of Canada boosted their price target on Flowserve from $55.00 to $57.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Bank of America lifted their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.10.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.